Participated · Equity · Jun 2022

Moova operates a last‑mile delivery SaaS that optimizes costs, routes and kilometers while converting idle capacity of delivery vehicles into low‑cost same‑day deliveries. The company also offers end‑to‑end delivery services through its own couriers, called Moovers, and licenses its platform to logistics providers. Moova’s platform targets efficiency gains for logistics suppliers that would otherwise face high costs to develop similar systems. The company is already present in eight countries and plans to expand further across Latin America and enter the U.S. market. With the new funding, Moova intends to scale its SaaS model, continue consolidating as a regional technology leader in logistics and open new markets and delivery hubs in Mexico and Colombia. Antonio Migliore, founder and CEO, framed the company’s goal as expanding mobility that is accessible, safe and sustainable.

Led · Series B · Jan 2022

a55 is a revenue-based financing platform that upfronts predictable sales for data-driven businesses and offers investors exposure to a recurring-revenue, fixed-income-like asset class. The company was founded in 2018 and operates in Brazil and Mexico through an open-finance platform that connects banking, payments and online-performance data. To date a55 has provided more than R$300 million in loans to over 500 companies. With the new funding the company plans to advance its technology, recruit talent, and accelerate expansion in Brazil and Mexico. a55 intends to grow its client portfolio beyond online subscriptions and e-commerce, enhance its open-finance platform, and develop new data-science and blockchain-based capabilities. Management frames the product as a way to give new-economy businesses easier access to credit while offering investors a secured, transparent asset class backed by predictable sales. a55 is a Brazilian fintech that provides credit to technology companies with recurring revenue through a data-driven lending platform. Its product suite includes a credit monitoring platform for borrowers, revenue insights and cost metrics, integrated cash-flow agreement management, deposit and revenue-splitting tools, and a real-time portfolio management and monitoring platform for investors fed by transactional data. Management says it uses digital, transactional and revenue data to drive credit decisions and build the platform of the future. In 2020 a55 grew about 500% and projected 600% growth in 2021; it aims to surpass R$1 billion of credit in Brazil and US$100 million in Mexico by 2022. The company plans to use new capital to finance credit operations across the region—with a focus on Mexico—and to expand commercially and in product offerings. a55 positions itself as an enabler for Latin American tech-enabled SMEs and highlights resilient credit performance during the COVID-19 pandemic. a55 provides alternative credit and liquidity solutions to small and medium enterprises by using companies' recurring revenues as collateral and a tech platform that connects bank accounts, custody, billing, payment methods and credit intelligence. Founded in Brazil in 2018 by André Wetter and Hugo Mathecowitsch, the company is positioning itself as a financing platform for businesses that serve other businesses, starting with SaaS providers, and has recently expanded into Mexico. The firm employs 45 professionals across São Paulo, Florianópolis and Mexico City. Since 2018 a55 has lent to 50 companies in 350 operations, disbursing roughly 100 million reais in Brazil and 150 million pesos in Mexico, with overdue payments below 4%. The company expects to double those disbursement figures in the next 12 months. Its product suite includes a credit dashboard, revenue and expense metrics, cash-flow management and deposit‑locking tools, and a real-time portfolio-management platform for lenders built on transaction data.

Participated · Equity · Aug 2016

iFood operates a food-delivery marketplace and technology platform that connects consumers, restaurants and a large courier network. The service is a core business unit of Brazilian technology conglomerate Movile and is central to Movile’s strategy to link online and offline commerce. iFood reported strong operating metrics in the article: roughly 10.4 million delivery orders in October, 390,000 daily orders in Brazil in late October (109% year-over-year growth), about 10.8 million monthly orders serving 9 million Brazilian customers, and a network of 50,000 restaurants and 120,000 couriers. Movile overall is cited as having estimated revenues of more than $240 million and more than 150 million monthly active users. Future plans described include investing in a state-of-the-art technology platform and growing courier and restaurant partners to better serve customers across Latin America, as iFood is positioned to lead Movile’s expansion. The business is presented as fueling Movile’s wider goal of reaching one billion people through its ecosystem of content, payments and delivery services. iFood operates a mobile-first online food delivery service in Brazil, partnering with restaurants to enable phone-based ordering and fulfillment. The company has signed deals with over 10,000 partner restaurants and is handling roughly 1.7 million deliveries each month. iFood emphasizes improving its mobile experience and plans regional expansion, including a push into Mexico tied to acquiring SinDelantal. It recently secured a $30 million financing to support that regional expansion and consolidation. Movile is a majority backer and JUST EAT is a significant shareholder, and iFood has been active in M&A to grow its footprint. iFood operates a mobile-first food delivery app that enables customers to order takeout across Brazil, with strong emphasis on mobile ordering. The company reports that roughly 75% of its orders and nine out of ten new users come from mobile. It closed 2014 with over 500,000 delivery requests per month, capturing about 80% of Brazil’s online restaurant delivery market and growing 10–12% month over month (targeting one million deliveries per month by year-end). iFood relies on a delivery fleet (about 900 moto-bike drivers through a partnership with Movile’s Rapiddo) and has expanded rapidly since a 2011 spin-out from Disk Cook. Management says the capital will be used to close the online-ordering gap, boost marketing, expand into more cities, and build out team and technology. iFood is an online food-delivery platform that offers ordering and delivery through web and mobile apps. Its core product connects consumers to restaurants for delivery and the company launched iPhone and Android apps roughly six months before the article. Mobile orders grew from zero to 20% of overall business in that six-month span. iFood is fulfilling more than 50,000 orders per month from over 1,000 restaurants, and its revenues were rising at about 10% per month. The company expects to be used by more than 5,000 restaurants by 2014 and sees a $4 billion opportunity in Brazil. iFood is positioned to expand into other Latin American markets and potentially the U.S., with support from mobile-distribution partners.

Led · Equity · Oct 2014

CinePapaya offers a mobile-first ticketing service that lets users search for films and buy cinema tickets, including features that help find films based on personal availability. Its app is available on iOS, Android and Windows Phone, and the company works with exhibitors such as Cinemark. CinePapaya has expanded across Latin America and the U.S. Hispanic market, operating in Chile, Colombia, Mexico, Miami, Argentina, Brazil, Costa Rica, Venezuela and Ecuador. The company also partners with broadcasters like Chilevision and ATV. Following the investment, CinePapaya plans to use funds to enter new markets, hire additional staff, and increase product innovation as part of the Movile network. The articles cite rising box-office trends in 2013—global box office up 4% to $35.9 billion and Latin America up 7%—as market context for the company’s expansion.